CBO: US could dive over 'fiscal cliff,' may improve debt outlook but cause recession

NEW YORK (CNNMoney) – If the so-called fiscal cliff takes effect in 2013, the U.S. deficit outlook will improve, but scheduled tax increases and spending cuts would push the country into recession and unemployment up to 9%. That's one of the main takeaways from an analysis Wednesday by the Congressional Budget Office, which released its … Continue reading CBO: US could dive over 'fiscal cliff,' may improve debt outlook but cause recession